New Zealand enters recession – Last Hour

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(ANSA) – WELLINGTON, 17 SEPTEMBER – The New Zealand economy has recorded a record quarterly decline, according to today’s official data which attest to the country’s entry into recession.

“The 12.2% decline in GDP is by far the largest ever recorded in New Zealand,” said the national statistics agency. The reference period runs from April to June, which coincides with the rigorous coronavirus lockdown that began at the end of March and then gradually began to ease from the end of May.

The closure of the country’s external borders since March 19 has also had a huge impact on some sectors of the economy, the New Zealand statistics agency pointed out.

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